High Tide continues its growth across Canada
High Tide Inc. announced that its Canna Cabana retail cannabis store located at 900 Carmichael Lane, in Hinton, Alberta will begin selling recreational cannabis products and consumption accessories for adult use; and its Canna Cabana retail cannabis store located at 1036 Pembroke Street East, Pembroke, Ontario will begin selling consumption accessories for adult use later in December with recreational cannabis sales to follow.
These openings will mark High Tide's 190th and 191st Canna Cabana branded retail cannabis locations in Canada, the 84th in the province of Alberta and the 76th in the province of Ontario.
READ: High Tide opens second Canna Cabana in Scarborough, Ontario
"I am thrilled to announce that by the end of 2024, High Tide will have successfully opened 29 new stores, achieving our publicly stated goal of adding 20 to 30 locations across Canada this year. This remarkable growth has been driven by our strong free cash flow, allowing us to expand without tapping into our cash reserves. We continue to solidify our position as Alberta's largest cannabis retailer, now operating 84 wholly owned locations, and we see even more opportunities to grow in our home province. In Ontario, Canada's largest market, we've reached an impressive milestone of surpassing 75 stores and are eager to double this number, aiming for the provincial cap of 150 locations," said Raj Grover, founder and chief executive officer of High Tide.
"Canada remains a dynamic and exciting growth market as we advance toward our ambitious goal of 300 locations nationwide within the next few years. Simultaneously, we are equally energized by our recently launched international initiatives that will drive our global expansion. I want to take this opportunity to thank our dedicated team for their unwavering efforts, especially as we push through December. Their hard work continues to be the backbone of our success.”
